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Outstanding Loans and Leases and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Schedule of Loans and Leases Outstanding
The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at March 31, 2023 and December 31, 2022.
30-59 Days
 Past Due (1)
60-89 Days
 Past Due (1)
90 Days or
More
Past Due (1)
Total Past
Due 30 Days
or More
Total
 Current or
 Less Than
 30 Days
 Past Due (1)
Loans
 Accounted
 for Under
 the Fair
 Value
 Option		Total
Outstandings
(Dollars in millions)March 31, 2023
Consumer real estate      
Residential mortgage$938 $255 $894 $2,087 $226,740 $228,827 
Home equity93 34 189 316 25,552 25,868 
Credit card and other consumer
Credit card500 346 828 1,674 90,795 92,469 
Direct/Indirect consumer (2)
206 78 61 345 104,195 104,540 
Other consumer— — — — 120 120 
Total consumer1,737 713 1,972 4,422 447,402 451,824 
Consumer loans accounted for under the fair value option (3)
$334 334 
Total consumer loans and leases1,737 713 1,972 4,422 447,402 334 452,158 
Commercial
U.S. commercial892 156 281 1,329 359,326 360,655 
Non-U.S. commercial124 33 133 290 124,537 124,827 
Commercial real estate (4)
257 15 114 386 72,665 73,051 
Commercial lease financing46 12 9 67 13,381 13,448 
U.S. small business commercial (5)
109 68 262 439 17,765 18,204 
Total commercial1,428 284 799 2,511 587,674 590,185 
Commercial loans accounted for under the fair value option (3)
4,063 4,063 
Total commercial loans and leases1,428 284 799 2,511 587,674 4,063 594,248 
Total loans and leases (6)
$3,165 $997 $2,771 $6,933 $1,035,076 $4,397 $1,046,406 
Percentage of outstandings 0.30 %0.10 %0.26 %0.66 %98.92 %0.42 %100.00 %
(1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $172 million and nonperforming loans of $157 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $69 million and nonperforming loans of $103 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $338 million and nonperforming loans of $745 million. Consumer real estate loans current or less than 30 days past due includes $1.6 billion, and direct/indirect consumer includes $29 million of nonperforming loans.
(2)Total outstandings primarily includes auto and specialty lending loans and leases of $52.7 billion, U.S. securities-based lending loans of $48.1 billion and non-U.S. consumer loans of $2.8 billion.
(3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $72 million and home equity loans of $262 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.2 billion and non-U.S. commercial loans of $1.9 billion. For more information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option.
(4)Total outstandings includes U.S. commercial real estate loans of $67.2 billion and non-U.S. commercial real estate loans of $5.8 billion.
(5)Includes Paycheck Protection Program loans.
(6)Total outstandings includes loans and leases pledged as collateral of $43.5 billion. The Corporation also pledged $243.8 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank.
30-59 Days
Past Due (1)
60-89 Days
 Past Due (1)
90 Days or
More
Past Due (1)
Total Past
Due 30 Days
or More
Total
Current or
Less Than
30 Days
Past Due (1)
Loans
Accounted
for Under
the Fair
Value Option		Total Outstandings
(Dollars in millions)December 31, 2022
Consumer real estate      
Residential mortgage$1,077 $245 $945 $2,267 $227,403 $229,670 
Home equity88 32 211 331 26,232 26,563 
Credit card and other consumer     
Credit card466 322 717 1,505 91,916  93,421 
Direct/Indirect consumer (2)
204 59 45 308 105,928  106,236 
Other consumer — — — — 156  156 
Total consumer1,835 658 1,918 4,411 451,635 456,046 
Consumer loans accounted for under the fair value option (3)
$339 339 
Total consumer loans and leases1,835 658 1,918 4,411 451,635 339 456,385 
Commercial       
U.S. commercial827 288 330 1,445 357,036  358,481 
Non-U.S. commercial317 59 144 520 123,959  124,479 
Commercial real estate (4)
409 81 77 567 69,199  69,766 
Commercial lease financing49 9 11 69 13,575  13,644 
U.S. small business commercial (5)
107 63 356 526 17,034  17,560 
Total commercial1,709 500 918 3,127 580,803  583,930 
Commercial loans accounted for under the fair value option (3)
5,432 5,432 
Total commercial loans and leases
1,709 500 918 3,127 580,803 5,432 589,362 
Total loans and leases (6)
$3,544 $1,158 $2,836 $7,538 $1,032,438 $5,771 $1,045,747 
Percentage of outstandings 0.34 %0.11 %0.27 %0.72 %98.73 %0.55 %100.00 %
(1)Consumer real estate loans 30-59 days past due includes fully-insured loans of $184 million and nonperforming loans of $155 million. Consumer real estate loans 60-89 days past due includes fully-insured loans of $75 million and nonperforming loans of $88 million. Consumer real estate loans 90 days or more past due includes fully-insured loans of $368 million and nonperforming loans of $788 million. Consumer real estate loans current or less than 30 days past due includes $1.6 billion, and direct/indirect consumer includes $27 million of nonperforming loans.
(2)Total outstandings primarily includes auto and specialty lending loans and leases of $51.8 billion, U.S. securities-based lending loans of $50.4 billion and non-U.S. consumer loans of $3.0 billion.
(3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $71 million and home equity loans of $268 million. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.9 billion and non-U.S. commercial loans of $2.5 billion. For more information, see Note 14 – Fair Value Measurements and Note 15 – Fair Value Option.
(4)Total outstandings includes U.S. commercial real estate loans of $64.9 billion and non-U.S. commercial real estate loans of $4.8 billion.
(5)Includes Paycheck Protection Program loans.
(6)Total outstandings includes loans and leases pledged as collateral of $18.5 billion. The Corporation also pledged $163.6 billion of loans with no related outstanding borrowings to secure potential borrowing capacity with the Federal Reserve Bank and Federal Home Loan Bank.
Schedule of Financing Receivables, Non Accrual Status The following table presents the Corporation’s nonperforming loans and leases and loans accruing past due 90 days or more at March 31, 2023 and December 31, 2022. Nonperforming LHFS are excluded from nonperforming loans and leases as they are recorded at either fair value or the lower of cost or fair value. For more information on the criteria for classification as nonperforming, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2022 Annual Report on Form 10-K.
Credit Quality
Nonperforming Loans
and Leases		Accruing Past Due
90 Days or More
(Dollars in millions)March 31
2023		December 31
2022		March 31
2023		December 31
2022
Residential mortgage (1)
$2,125 $2,167 $338 $368 
With no related allowance (2)
1,935 1,973 — — 
Home equity (1)
488 510 — — 
With no related allowance (2)
396 393 — — 
Credit Card                     n/a                    n/a828 717 
Direct/indirect consumer101 77 2 2 
Total consumer2,714 2,754 1,168 1,087 
U.S. commercial559 553 112 190 
Non-U.S. commercial125 212 92 25 
Commercial real estate502 271 35 46 
Commercial lease financing4 4 6 8 
U.S. small business commercial14 14 261 355 
Total commercial1,204 1,054 506 624 
Total nonperforming loans$3,918 $3,808 $1,674 $1,711 
Percentage of outstanding loans and leases
0.38 %0.37 %0.16 %0.16 %
(1)Residential mortgage loans accruing past due 90 days or more are fully-insured loans. At March 31, 2023 and December 31, 2022 residential mortgage included $232 million and $260 million of loans on which interest had been curtailed by the Federal Housing Administration (FHA), and therefore were no longer accruing interest, although principal was still insured, and $106 million and $108 million of loans on which interest was still accruing.
(2)Primarily relates to loans for which the estimated fair value of the underlying collateral less any costs to sell is greater than the amortized cost of the loans as of the reporting date.
n/a = not applicable
Financing Receivable Credit Quality Indicators March 31, 2023.
Residential Mortgage – Credit Quality Indicators By Vintage
Term Loans by Origination Year
(Dollars in millions)Total as of
March 31,
 2023		20232022202120202019Prior
Residential Mortgage
Refreshed LTV
   
Less than or equal to 90 percent$214,159 $3,115 $39,127 $79,059 $37,281 $18,552 $37,025 
Greater than 90 percent but less than or equal to 100 percent
2,352 196 1,404 612 96 19 25 
Greater than 100 percent
934 105 479 240 46 16 48 
Fully-insured loans
11,382 44 464 3,624 3,033 924 3,293 
Total Residential Mortgage$228,827 $3,460 $41,474 $83,535 $40,456 $19,511 $40,391 
Residential Mortgage
Refreshed FICO score
Less than 620$2,112 $21 $385 $519 $357 $109 $721 
Greater than or equal to 620 and less than 680
4,885 68 1,082 1,266 818 327 1,324 
Greater than or equal to 680 and less than 740
23,704 309 5,033 7,482 4,046 2,033 4,801 
Greater than or equal to 740
186,744 3,018 34,510 70,644 32,202 16,118 30,252 
Fully-insured loans
11,382 44 464 3,624 3,033 924 3,293 
Total Residential Mortgage$228,827 $3,460 $41,474 $83,535 $40,456 $19,511 $40,391 
Gross charge-offs$8 $— $3 $1 $1 $— $3 
Home Equity - Credit Quality Indicators
Total
Home Equity Loans and Reverse Mortgages (1)
Revolving LoansRevolving Loans Converted to Term Loans
(Dollars in millions)March 31, 2023
Home Equity
Refreshed LTV
   
Less than or equal to 90 percent$25,692 $1,238 $19,627 $4,827 
Greater than 90 percent but less than or equal to 100 percent
72 21 35 16 
Greater than 100 percent
104 36 38 30 
Total Home Equity$25,868 $1,295 $19,700 $4,873 
Home Equity
Refreshed FICO score
Less than 620$677 $167 $197 $313 
Greater than or equal to 620 and less than 680
1,138 144 504 490 
Greater than or equal to 680 and less than 740
4,186 292 2,728 1,166 
Greater than or equal to 740
19,867 692 16,271 2,904 
Total Home Equity$25,868 $1,295 $19,700 $4,873 
Gross charge-offs$6 $1 $3 $2 
(1)Includes reverse mortgages of $893 million and home equity loans of $402 million, which are no longer originated.
Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage
Direct/Indirect
Term Loans by Origination YearCredit Card
(Dollars in millions)Total Direct/
Indirect as of March 31,
2023		Revolving Loans20232022202120202019PriorTotal Credit Card as of March 31,
2023		Revolving Loans
Revolving Loans Converted to Term Loans (1)
Refreshed FICO score  
Less than 620$940 $12 $32 $308 $318 $113 $76 $81 $4,268 $4,052 $216 
Greater than or equal to 620 and less than 6802,463 11 245 1,022 707 225 121 132 10,732 10,526 206 
Greater than or equal to 680 and less than 740
8,693 49 1,059 3,563 2,375 821 422 404 31,858 31,673 185 
Greater than or equal to 74040,766 77 5,101 15,273 10,501 4,837 2,527 2,450 45,611 45,566 45 
Other internal credit
   metrics (2,3)
51,678 50,942 52 181 191 63 59 190 — — — 
Total credit card and other
   consumer		$104,540 $51,091 $6,489 $20,347 $14,092 $6,059 $3,205 $3,257 $92,469 $91,817 $652 
Gross charge-offs$40 $1 $— $17 $11 $4 $2 $5 $650 $633 $17 
(1)Represents loans that were modified into term loans.
(2)Other internal credit metrics may include delinquency status, geography or other factors.
(3)Direct/indirect consumer includes $50.9 billion of securities-based lending, which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at March 31, 2023.
Commercial – Credit Quality Indicators By Vintage (1)
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in millions)Total as of
March 31,
2023		20232022202120202019PriorRevolving Loans
U.S. Commercial
Risk ratings    
Pass rated$350,224 $9,255 $55,496 $33,787 $17,310 $15,264 $37,296 $181,816 
Reservable criticized10,431 49 605 803 582 885 1,925 5,582 
Total U.S. Commercial
$360,655 $9,304 $56,101 $34,590 $17,892 $16,149 $39,221 $187,398 
Gross charge-offs$59 $— $3 $18 $— $— $5 $33 
Non-U.S. Commercial
Risk ratings
Pass rated$122,545 $4,204 $19,937 $18,102 $4,634 $3,736 $6,585 $65,347 
Reservable criticized2,282 81 144 321 277 254 225 980 
Total Non-U.S. Commercial
$124,827 $4,285 $20,081 $18,423 $4,911 $3,990 $6,810 $66,327 
Gross charge-offs$23 $— $— $8 $7 $1 $— $7 
Commercial Real Estate
Risk ratings
Pass rated$67,512 $1,856 $16,836 $13,350 $5,281 $8,861 $12,414 $8,914 
Reservable criticized5,539 — 11 829 538 1,737 2,217 207 
Total Commercial Real Estate
$73,051 $1,856 $16,847 $14,179 $5,819 $10,598 $14,631 $9,121 
Gross charge-offs$24 $— $— $— $— $13 $11 $— 
Commercial Lease Financing
Risk ratings
Pass rated$13,227 $613 $3,208 $2,576 $1,775 $1,428 $3,627 $— 
Reservable criticized221 — 20 43 17 36 105 — 
Total Commercial Lease Financing
$13,448 $613 $3,228 $2,619 $1,792 $1,464 $3,732 $— 
Gross charge-offs$— $— $— $— $— $— $— $— 
U.S. Small Business Commercial (2)
Risk ratings
Pass rated$8,653 $453 $1,806 $1,833 $1,209 $826 $2,401 $125 
Reservable criticized352 — 22 52 52 72 151 3 
Total U.S. Small Business Commercial
$9,005 $453 $1,828 $1,885 $1,261 $898 $2,552 $128 
Gross charge-offs$13 $— $— $— $8 $1 $1 $3 
Total$580,986 $16,511 $98,085 $71,696 $31,675 $33,099 $66,946 $262,974 
Total gross charge-offs$119 $— $3 $26 $15 $15 $17 $43 
(1) Excludes $4.1 billion of loans accounted for under the fair value option at March 31, 2023.
(2)     Excludes U.S. Small Business Card loans of $9.2 billion. Refreshed FICO scores for this portfolio are $360 million for less than 620; $931 million for greater than or equal to 620 and less than 680; $2.5 billion for greater than or equal to 680 and less than 740; and $5.4 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $62 million.
The following tables present certain credit quality indicators for the Corporation's Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments by year of origination, except for revolving loans and revolving loans that were modified into term loans, which are shown on an aggregate basis at December 31, 2022.
Residential Mortgage – Credit Quality Indicators By Vintage
Term Loans by Origination Year
(Dollars in millions)Total as of
 December 31,
 2022		20222021202020192018Prior
Residential Mortgage
Refreshed LTV
Less than or equal to 90 percent$215,713 $39,625 $81,437 $37,228 $18,980 $5,734 $32,709 
Greater than 90 percent but less than or equal to 100 percent
1,615 950 530 93 15 8 19 
Greater than 100 percent
648 374 169 43 15 8 39 
Fully-insured loans
11,694 580 3,667 3,102 949 156 3,240 
Total Residential Mortgage$229,670 $41,529 $85,803 $40,466 $19,959 $5,906 $36,007 
Residential Mortgage
Refreshed FICO score
Less than 620$2,156 $377 $518 $373 $124 $84 $680 
Greater than or equal to 620 and less than 680
4,978 1,011 1,382 840 329 233 1,183 
Greater than or equal to 680 and less than 740
25,444 5,411 8,290 4,369 2,187 830 4,357 
Greater than or equal to 740185,398 34,150 71,946 31,782 16,370 4,603 26,547 
Fully-insured loans
11,694 580 3,667 3,102 949 156 3,240 
Total Residential Mortgage$229,670 $41,529 $85,803 $40,466 $19,959 $5,906 $36,007 
Gross charge-offs$161 $— $6 $5 $6 $1 $143 
Home Equity - Credit Quality Indicators
Total
Home Equity Loans and Reverse Mortgages (1)
Revolving LoansRevolving Loans Converted to Term Loans
(Dollars in millions)December 31, 2022
Home Equity
Refreshed LTV
Less than or equal to 90 percent$26,395 $1,304 $19,960 $5,131 
Greater than 90 percent but less than or equal to 100 percent
62 20 24 18 
Greater than 100 percent
106 37 35 34 
Total Home Equity$26,563 $1,361 $20,019 $5,183 
Home Equity
Refreshed FICO score
Less than 620$683 $166 $189 $328 
Greater than or equal to 620 and less than 680
1,190 152 507 531 
Greater than or equal to 680 and less than 740
4,321 312 2,747 1,262 
Greater than or equal to 740
20,369 731 16,576 3,062 
Total Home Equity$26,563 $1,361 $20,019 $5,183 
Gross charge-offs$45 $5 $24 $16 
(1)Includes reverse mortgages of $937 million and home equity loans of $424 million, which are no longer originated.
Credit Card and Direct/Indirect Consumer – Credit Quality Indicators By Vintage
Direct/Indirect
Term Loans by Origination YearCredit Card
(Dollars in millions)Total Direct/Indirect as of December 31, 2022Revolving Loans20222021202020192018PriorTotal Credit Card as of December 31, 2022Revolving Loans
Revolving Loans Converted to Term Loans (1)
Refreshed FICO score
Less than 620$847 $12 $237 $301 $113 $84 $43 $57 $4,056 $3,866 $190 
Greater than or equal to 620 and less than 680
2,521 12 1,108 816 269 150 69 97 10,994 10,805 189 
Greater than or equal to 680 and less than 740
8,895 52 4,091 2,730 992 520 214 296 32,186 32,017 169 
Greater than or equal to 74039,679 83 16,663 11,392 5,630 2,992 1,236 1,683 46,185 46,142 43 
Other internal credit
   metrics (2, 3)
54,294 53,404 259 305 70 57 40 159 — — — 
Total credit card and other
   consumer		$106,236 $53,563 $22,358 $15,544 $7,074 $3,803 $1,602 $2,292 $93,421 $92,830 $591 
Gross charge-offs$232 $7 $31 $79 $34 $27 $14 $40 $1,985 $1,909 $76 
(1)Represents TDRs that were modified into term loans.
(2)Other internal credit metrics may include delinquency status, geography or other factors.
(3)Direct/indirect consumer includes $53.4 billion of securities-based lending, which is typically supported by highly liquid collateral with market value greater than or equal to the outstanding loan balance and therefore has minimal credit risk at December 31, 2022.

Commercial – Credit Quality Indicators By Vintage (1)
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in millions)Total as of December 31, 202220222021202020192018PriorRevolving Loans
U.S. Commercial
Risk ratings    
Pass rated$348,447 $61,200 $39,717 $18,609 $16,566 $8,749 $30,282 $173,324 
Reservable criticized10,034 278 794 697 884 1,202 856 5,323 
Total U.S. Commercial
$358,481 $61,478 $40,511 $19,306 $17,450 $9,951 $31,138 $178,647 
Gross charge-offs$151 $2 $24 $24 $9 $6 $13 $73 
Non-U.S. Commercial
Risk ratings
Pass rated$121,890 $24,839 $19,098 $5,183 $3,882 $2,423 $4,697 $61,768 
Reservable criticized2,589 45 395 331 325 98 475 920 
Total Non-U.S. Commercial
$124,479 $24,884 $19,493 $5,514 $4,207 $2,521 $5,172 $62,688 
Gross charge-offs$41 $— $3 $1 $— $37 $— $— 
Commercial Real Estate
Risk ratings
Pass rated$64,619 $15,290 $13,089 $5,756 $9,013 $4,384 $8,606 $8,481 
Reservable criticized5,147 11 837 545 1,501 1,151 1,017 85 
Total Commercial Real Estate
$69,766 $15,301 $13,926 $6,301 $10,514 $5,535 $9,623 $8,566 
Gross charge-offs$75 $— $— $6 $— $26 $43 $— 
Commercial Lease Financing
Risk ratings
Pass rated$13,404 $3,255 $2,757 $1,955 $1,578 $1,301 $2,558 $— 
Reservable criticized240 9 35 12 71 50 63 — 
Total Commercial Lease Financing
$13,644 $3,264 $2,792 $1,967 $1,649 $1,351 $2,621 $— 
Gross charge-offs$8 $— $4 $— $4 $— $— $— 
U.S. Small Business Commercial (2)
Risk ratings
Pass rated$8,726 $1,825 $1,953 $1,408 $864 $624 $1,925 $127 
Reservable criticized329 11 35 48 76 51 105 3 
Total U.S. Small Business Commercial
$9,055 $1,836 $1,988 $1,456 $940 $675 $2,030 $130 
Gross charge-offs$31 $— $1 $11 $4 $1 $6 $8 
 Total $575,425 $106,763 $78,710 $34,544 $34,760 $20,033 $50,584 $250,031 
Total gross charge-offs$306 $2 $32 $42 $17 $70 $62 $81 
(1) Excludes $5.4 billion of loans accounted for under the fair value option at December 31, 2022.
(2) Excludes U.S. Small Business Card loans of $8.5 billion. Refreshed FICO scores for this portfolio are $297 million for less than 620; $859 million for greater than or equal to 620 and less than 680; $2.4 billion for greater than or equal to 680 and less than 740; and $5.0 billion greater than or equal to 740. Excludes U.S. Small Business Card loans gross charge-offs of $172 million.
Troubled Debt Restructurings on Financing Receivables The table below provides aging information as of March 31, 2023 for consumer real estate loans modified since January 1, 2023.
Consumer Real Estate - Payment Status of Modifications to Borrowers in Financial Difficulty (1)
Current30–89 Days
Past Due		90+ Days
Past Due		Total
(Dollars in millions)March 31, 2023
Residential mortgage$126 $49 $30 $205
Home equity23 7 10 40
Total$149 $56 $40 $245
(1)Excludes trial modifications and Chapter 7 discharges.
The following table presents the March 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of consumer real estate loans that were modified in TDRs during the three months ended March 31, 2022. The following Consumer Real Estate portfolio segment tables include loans that were initially classified as TDRs during the period and also loans that had previously been classified as TDRs and were modified again during the period. Binding trial modifications are classified as TDRs when the trial offer is made and continue to be classified as TDRs regardless of whether the borrower enters into a permanent modification.
At December 31, 2022, remaining commitments to lend additional funds to debtors whose terms have been modified in a consumer real estate TDR were not significant.
Consumer Real Estate – TDRs Entered into During the Three Months Ended March 31, 2022
Unpaid Principal BalanceCarrying
Value		Pre-Modification Interest Rate
Post-Modification Interest Rate (1)
(Dollars in millions)March 31, 2022
Residential mortgage$585 $539 3.50 %3.33 %
Home equity92 75 3.62 3.63 
Total $677 $614 3.52 3.37 
(1)The post-modification interest rate reflects the interest rate applicable only to permanently completed modifications, which exclude loans that are in a trial modification period.
The table below presents the March 31, 2022 carrying value for consumer real estate loans that were modified in a TDR during the three months ended March 31, 2022, by type of modification.
Consumer Real Estate – Modification Programs
(Dollars in millions)TDRs Entered into During the
Three Months Ended March 31, 2022
Modifications under proprietary programs 552 
Loans discharged in Chapter 7 bankruptcy (1)
5 
Trial modifications57 
Total modifications$614 
(1)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs.
The table below presents the carrying value of consumer real estate loans that entered into payment default during the three months ended March 31, 2022 that were modified in a TDR during the 12 months preceding payment default. A payment default for consumer real estate TDRs is recognized when a borrower has missed three monthly payments (not necessarily consecutively) since modification.
Consumer Real Estate – TDRs Entering Payment Default that were Modified During the Preceding 12 Months
(Dollars in millions)Three Months Ended March 31, 2022
Modifications under proprietary programs40 
Loans discharged in Chapter 7 bankruptcy (1)
1 
Trial modifications (2)
4 
Total modifications$45 
(1)Includes loans discharged in Chapter 7 bankruptcy with no change in repayment terms that are classified as TDRs.
(2)Includes trial modification offers to which the customer did not respond.
The table below provides information on the Corporation’s Credit Card and Other Consumer TDR portfolio including the March 31, 2022 unpaid principal balance, carrying value, and average pre- and post-modification interest rates of loans that were modified in TDRs during the three months ended March 31, 2022.
Credit Card and Other Consumer – TDRs Entered into During the Three Months Ended March 31, 2022
 Unpaid Principal Balance
Carrying
Value (1)
Pre-Modification Interest RatePost-Modification Interest Rate
(Dollars in millions)March 31, 2022
Credit card$69 $73 18.67 %3.69 %
Direct/Indirect consumer4 3 5.75 5.75 
Total $73 $76 18.03 3.77 
(1)Includes accrued interest and fees.
The table below presents the March 31, 2022 carrying value for Credit Card and Other Consumer loans that were modified in a TDR during the three months ended March 31, 2022 by program type.
Credit Card and Other Consumer – TDRs by Program Type (1)
(Dollars in millions)
TDRs Entered into During the
Three Months Ended March 31, 2022
Internal programs$63 
External programs
10 
Other
3 
Total$76 
(1) Includes accrued interest and fees.
Changes in the Allowance for Credit Losses The changes in the allowance for credit losses, including net charge-offs and provision for loan and lease losses, are detailed in the table below.
Consumer
Real Estate		Credit Card and
 Other Consumer		CommercialTotal
(Dollars in millions)Three Months Ended March 31, 2023
Allowance for loan and lease losses, December 31$420 $6,817 $5,445 $12,682 
January 1, 2023 adoption of credit loss standard(67)(109)(67)(243)
Allowance for loan and lease losses, January 1353 6,708 5,378 12,439 
Loans and leases charged off(14)(861)(181)(1,056)
Recoveries of loans and leases previously charged off25 197 27 249 
Net charge-offs11 (664)(154)(807)
Provision for loan and lease losses34 913 (47)900 
Other 5 1 (24)(18)
Allowance for loan and lease losses, March 31
403 6,958 5,153 12,514 
Reserve for unfunded lending commitments, January 194 — 1,446 1,540 
Provision for unfunded lending commitments(1)— (102)(103)
Reserve for unfunded lending commitments, March 31
93 — 1,344 1,437 
Allowance for credit losses, March 31
$496 $6,958 $6,497 $13,951 
Three Months Ended March 31, 2022
Allowance for loan and lease losses, January 1$557 $6,476 $5,354 $12,387 
Loans and leases charged off(23)(619)(92)(734)
Recoveries of loans and leases previously charged off63 239 40 342 
Net charge-offs40 (380)(52)(392)
Provision for loan and lease losses(126)146 88 108 
Other2 — (1)1 
Allowance for loan and lease losses, March 31
473 6,242 5,389 12,104 
Reserve for unfunded lending commitments, January 196 — 1,360 1,456 
Provision for unfunded lending commitments(6)— (72)(78)
Other1 — — 1 
Reserve for unfunded lending commitments, March 31
91 — 1,288 1,379 
Allowance for credit losses, March 31
$564 $6,242 $6,677 $13,483